v3.25.1

Variable Interest Entities - Schedule of Consolidated Variable Interest Entities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 126,082	$ 482,834	$ 69,958	$ 383,098
Investments	261,608	281,962
Other assets	233,966	183,792
Total assets	1,820,501	2,255,936
Liabilities
Payables to brokers, dealers and clearing organizations	765	5,862
Other liabilities and accrued expenses	65,351	95,412
Total liabilities	442,391	840,163
Variable Interest Entity, Primary Beneficiary
Assets
Cash and cash equivalents	4,419	10,078
Investments	214,507	236,138
Other assets	10	1,099
Total assets	218,936	247,315
Liabilities
Other liabilities and accrued expenses	8,729	12,166
Total liabilities	$ 8,729	$ 12,166

Investments, excluding financial instruments owned.

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-Paragraph 1
-Subparagraph (SX 210.7-03(a)(10))
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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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PIPER SANDLER COMPANIES 10-Q